10% year-on-year increase in mortgage lending

New figures released by the Council of Mortgage Lenders (CML) show that gross mortgage lending in January 2012 was up 10% compared with the same month last year. There have been year-on-year increases in the amount of mortgage borrowing for the last 6 months consecutively, but the overall amount of activity has been low. CML […]

Most homeowners expect to see price fall

A majority of homeowners across the UK expect to see the value of their property decline over the course of the next 12 months, according to recent research. Figures compiled as part of the Building Society Association’s Property Price Tracker show that almost three-quarters of Britons believe values will fall in the coming year. Around […]

Darling calls for fairness over mortgage fees

Chancellor Alistair Darling has called on mortgage lenders in the UK to ensure that their arrangement fees are fair to customers. Mr Darling has expressed concern that people looking to remortgage are having their money problems made worse as a result of being charged large sums for arrangement by their financial service provider. The Council […]

Remortgage market ‘holding up’

The remortgaging market in the UK is holding up despite the various pressures on the housing sector, according to the British Bankers’ Association (BBA). BBA members reported a poor performance in terms of home loan activity over the course of last month, with remortgaging proving to be the only area of the market offering cause […]

Mortgage borrowers see fixed rates rise

Mortgage borrowers have seen the average interest level on a fixed-rate product continue to increase in recent weeks. According to a report from Moneyfacts, the typical two-year fixed-rate mortgage deal now on the market charges 7.02 per cent, while a five-year equivalent has an average rate of around 6.82 per cent. The figures reflect rises […]

Housing sector set for “serious grief”

The UK’s housing sector is heading for "serious grief", the Liberal Democrat economic spokesperson Vince Cable has claimed. Mr Cable is convinced that the ongoing housing sector slump will be worse than many analysts are currently anticipating and will be very difficult to alleviate. He has suggested that the government should oblige creditors to adhere […]

Asking prices ‘on the slide’

The asking prices offered by Britons looking to sell their properties have been falling in recent weeks, according to the latest figures. Data corroborated by Rightmove has shown that with more and more households facing money problems, the typical price at which sellers are putting their property up for sale has fallen 1.2 per cent […]

Housing sector ‘keeps slowing’

The UK’s housing sector keeps slowing as fewer and fewer people are approved for home loan deals, it has been revealed. According to the latest data from the Council of Mortgage Lenders (CML), the loans handed out in May were worth a total of £25.5 billion, which is considerably less than the £31.5 billion lent […]

Bank holds base rate

The Bank of England’s monetary policy committee (MPC) has opted to maintain the base rate of interest at five per cent, it has been announced. A cut in the base rate might have offered some relief to the millions of people around the country who are struggling to deal with their debt management and money […]

Lenders ‘need to change their stance’

Mortgage lenders in the UK need to change their current attitude and practices if the housing sector is to recover, it has been claimed. The online home moving service has suggested that lenders are being excessively cautious and leaving borrowers with debt problems little room for manoeuvre. According to the company, financial services firms […]

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